this post was submitted on 08 Sep 2023
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The End of Airbnb in New York (www.wired.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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The End of Airbnb in New York::Thousands of Airbnbs and other short-term rentals are expected to disappear from rental platforms as New York City begins enforcing tight restrictions.

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[–] finnie@lemmy.world 7 points 1 year ago

Well I think it was successful for the same reason so many unicorn startups are. They were bankrolled by promising angel investors marketshare so they were able to run artificially brutally low prices to dry out the rest of the market for years. But now investors are asking for those profits back and we're here dealing with horrible Airbnb prices AND it made the housing crisis worse. Double whammy, bb!!